Boston-based financial giant Fidelity Investments plans to close its private equity unit next month due the unit’s inability to raise funds through debt financings, Reuters reported this morning. The closure of the two-year-old private equity unit, which is called Fidelity Equity Partners and manages $500 million in assets, will have no impact on Fidelity Ventures, the venture capital arm of Fidelity that invests in early-stage technology firms, according to Reuters.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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